Half of the 30 most costly projects in the world today are in rising economies such as China, Brazil and the Middle East. The No. 1 most expensive project, at $150 billion, is China’s South-North Water Diversion plan, which will use the Grand Canal and two other routes to bring water to Beijing and other northern cities. Other top projects include Britain’s $132 billion for offshore wind farms and Japan’s $62 billion Daini Tomei Highway.